Some rich people have gained notoriety by publicly volunteering to forego a tax cut or to pay more in taxes to support spending on their favorite government programs.
Former President Clinton is a prime example. The implication is that rest of us are selfish. In fact, their statements do not make them Mother Teresa.
With more money in their pockets, the president believes Americans will be able to spend more and this will speed up economic recovery. According to President Bush, "By ensuring that Americans have more to spend, to save and to invest, this legislation is adding fuel to an economic recovery. We have taken aggressive action to strengthen the foundation of our economy so that every American who wants to work will be able to find a job."
The historical record shows that commercial freedom is the best policy in peace and war. Cooperation is more fruitful than coercion. And if one wants the friendship or assistance of others it is better to appeal to their interests instead of their fears. Above all, foreign trade should be as free and unrestricted as trade within a nation.
Every good libertarian should favor tax cuts. The money belongs to us in the first place, and it should be an occasion to celebrate when Washington wises up and gives some back. We've been promised a tax cut as long as memory serves, but it never seems to arrive. At last, here it is, thanks to Bush having pushed so hard for this as an economic stimulus measure.
Though news coverage of Enron has evaporated, its aftereffects remain. This supposed crisis led to an expansion of leviathan in the form of the Sarbanes-Oxley Act of 2002. Unfortunately, the high costs of this act are not getting anywhere near as much coverage as the 'crisis' that fueled support for it.
Germany's biggest economic troubles trace to Otto von Bismarck, who conceived of a system of social security for the industrial workers in the late 19th century. His goal was to bring them under the control of the State. It was first during World War I and its aftermath and under the Third Reich in the 1930s when the welfare state experienced its greatest expansions.
People can feel socially secure in Denmark—at least for now. People don't get rich from welfare but they can live a comfortable life. Practically all people are eligible for one program or another. But it is not sustainable in the long run. At some point, the trough will be empty. Per Henrik Hansen explains.
Despite the Media Campaign's consistently poor performance, lawmakers are nonetheless set to refund the anti-drug ad program with a new five-year appropriation, which includes a $90 million funding boost! Nevertheless, it's painfully apparent that the public isn't buying what the government is selling.
Government cannot create something from nothing. But the premise of universal health care is that the government can bestow benefits upon members of society that it had not created for itself. It imposes on the economic body something that did not come from within its own means, or by its own choice, meaning the choices of the many individuals that make up the economy.
With growing government outlays and the Fed's reckless monetary policies, it is mission impossible to have an effective cut in taxes, argues Frank Shostak. That the intention is to grow rather than shrink the size of the government was demonstrated by President Bush's signing the increase in the Federal debt limit from $6.4 trillion to $7.384 trillion on the day he signed into law the tax cuts.
